Market Overview

Meetings With Wright Medical Management Leave Analysts More Confident Company Can Hit Guidance


Following its meeting with Wright Medical Group Inc's (NASDAQ: WMGI) Chief Communications Officer Julie Tracy, Barclays continues to think the company can deliver mid-teens underlying growth. The strong growth stems from expectations of strong product cycles in growing end markets.

Analyst Matthew Taylor believes the company is making progress with getting Augment approved through hospital's Value Assessment Committees. The analyst also views that there would be further upside for the company's dissynergy number of $25 million to $30 million.

Barclays noted the company estimates penetration of ankle market to be only at 15-20 percent in the US. The firm believes the shoulder market is still growing and developing, as technologies lure new and young patients. The firm is also feeling the company has a steady flow of upper, lower and enabling technologies over the next few years.

Barclays is increasingly confident that the company will meet its targets. The firm also said near-term catalysts in the second quarter include quarterly results and further clarity on the Conserve litigation.

Barclays reiterated its Outperform rating on shares, with a price target of $33.

At time of writing, the shares of Wright Medical were up 3.76 percent at $24.56.

Latest Ratings for WMGI

Aug 2019DowngradesOutperformMarket Perform
Aug 2019DowngradesBuyNeutral
Aug 2019MaintainsOutperform

View More Analyst Ratings for WMGI
View the Latest Analyst Ratings

Posted-In: BarclaysAnalyst Color Reiteration Analyst Ratings


Related Articles (WMGI)

View Comments and Join the Discussion!

Latest Ratings

WENMorgan StanleyMaintains22.0
XGNCantor FitzgeraldInitiates Coverage On18.0
LOOPRoth CapitalInitiates Coverage On14.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at

Why This Analyst Can't Justify Lifting His Rating On Arch Capital At This Valuation

Olive Garden Gaining Market Share, A Bright Spot For Darden Restaurants